BidaskClub Downgrades MacroGenics, Inc. (MGNX) to Sell

MacroGenics, Inc. (NASDAQ:MGNX) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Monday, July 31st.

A number of other analysts have also issued reports on the stock. Morgan Stanley dropped their price target on shares of MacroGenics from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, May 8th. Zacks Investment Research upgraded shares of MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price target for the company in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $32.30.

Shares of MacroGenics (MGNX) traded up 2.59% on Monday, hitting $16.24. 125,238 shares of the stock traded hands. The firm’s 50-day moving average is $17.36 and its 200 day moving average is $18.72. MacroGenics has a 12-month low of $14.36 and a 12-month high of $33.30. The firm’s market cap is $597.60 million.

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MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by $0.09. The company had revenue of $1.70 million during the quarter, compared to the consensus estimate of $15.82 million. MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The firm’s quarterly revenue was down 97.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. Equities research analysts forecast that MacroGenics will post ($4.36) EPS for the current fiscal year.

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In other MacroGenics news, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction on Monday, June 5th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the transaction, the senior vice president now owns 35,000 shares of the company’s stock, valued at $700,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in MGNX. BB Biotech AG increased its position in shares of MacroGenics by 17.7% in the first quarter. BB Biotech AG now owns 2,260,000 shares of the biopharmaceutical company’s stock valued at $42,036,000 after buying an additional 340,000 shares during the period. Stifel Financial Corp increased its position in shares of MacroGenics by 7.8% in the first quarter. Stifel Financial Corp now owns 20,155 shares of the biopharmaceutical company’s stock valued at $370,000 after buying an additional 1,450 shares during the period. Airain ltd purchased a new position in shares of MacroGenics during the first quarter valued at about $470,000. Hood River Capital Management LLC increased its position in shares of MacroGenics by 17.2% in the first quarter. Hood River Capital Management LLC now owns 563,143 shares of the biopharmaceutical company’s stock valued at $10,474,000 after buying an additional 82,691 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of MacroGenics by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 49,059 shares of the biopharmaceutical company’s stock valued at $912,000 after buying an additional 485 shares during the period. 82.34% of the stock is owned by institutional investors.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.